Property for Sale – Canada
Canada is the second largest country in the world.
Nearly 90% of Canadians live within 200km of the border with the United States, which means that Canada contains vast expanses of wilderness to the north.
The relationship to its powerful neighbor is a defining factor for Canada. The US and Canada have the world’s largest trading relationship.
Immigration has helped to make Canada one of the world’s richest nations. Many recent newcomers hail from Asia. Canada’s indigenous peoples make up less than two per cent of the population. The way in which provincial governments share land and natural resources with native groups is an ongoing issue.
- Full name: Canada
- Population: 3 million (UN, 2011)
- Capital: Ottawa
- Largest city:Toronto
- Area: 9 million sq km (3.8 million sq miles)
- Major languages: English, French (both official)
- Major religion: Christianity
- Life expectancy: 79 years (men), 83 years (women) (UN)
- Monetary unit: 1 Canadian dollar = 100 cents
- Main exports: Machinery and equipment, automotive products, metals and plastics, forestry products, agricultural and fishing products, energy products
- GNI per capita: US $43,270 (World Bank, 2010)
RESIDENTIAL PROPERTY FACTS
Price (sq.m): $9,409
Rental Yield: 3.98%
Income Tax: 25.00%
Roundtrip Cost: 8.05%
Cap Gains Tax: 25.00%
Landlord and Tenant Law: Pro-Tenant
Canada’s housing market / property for sale in Canada continues to grow stronger, despite repeated market-cooling measures and fragile economy.
House prices in Canada’s eleven major cities soared 13.37% during the year to February 2017.
“Price acceleration in Vancouver, Victoria, Toronto and Hamilton indicates that home price growth may be driven by speculation as it is outpacing what economic fundamentals like migration, employment and income can support,”
According to the Canadian Real Estate Association (CREA):
- The average price of a two-storey single family home posted the strongest year-on-year gains of 17.9% in February 2017.
- Townhouses / row houses prices also increased by 16% in February 2017 from a year earlier.
- The national average price of a one-storey single family home rose by 15% during the year to February 2017.
- Apartment prices increased by 13.7%, on average, over the same period.
Toronto’s house prices recorded the biggest year-on-year rise of 23%, followed by Hamilton (19.7%), Victoria (15.9%), and Vancouver (14.3%). It i
House prices increased less in Ottawa (5.3%), Montreal (3.9%), Halifax (2.6%), Winnipeg (1.7%), and Calgary (1%).
House prices fell in Quebec (-1.8%) and Edmonton (-0.1%).
It is not as easy as before to buy a home in Canada though many real estate developers in Canada are offering houses for sale in Canada to Indians via the Permanent Residency scheme.
KEY HOUSE PRICE FACTS
|Square Metre Prices||$9,409|
Rental returns on apartments in Montreal tend to outpace those in Toronto. We’ve found in recent years that even on a largish 120 sq. m. apartment in Montreal, you are likely to earn a gross rental return over of 5 %. If you own a small apartment of 60 sq. m. in Montreal and rent it out, you are likely to make a return of around 7%.
If you are looking for rental returns, Montreal is the city that you want.